* Jobless claims, revised GDP data due
* Apple to buy Beats for $3 bln, producer Iovine to join company
* Futures up: Dow 17 pts, S&P 2 pts, Nasdaq 3.5 pts
NEW YORK, May 29 (Reuters) - U.S. stock index futures ticked up in low volume on Thursday ahead of data on the labor market and economic growth, with the S&P 500 poised to challenge its record high after falling a couple of points the previous session.
* The U.S. 10-year note yield dipped below 2.43 percent to hit its lowest in nearly 11 months before trading little changed on the day, pressured by expectations that the European Central Bank will introduce further stimulus at next week’s meeting.
* Sliding yields could continue to entice investors into high dividend-paying stocks, with the utilities sector of the S&P 500 widely outperforming the benchmark so far this year.
* The Commerce Department’s revised estimate of first quarter gross domestic product, due at 8:30 a.m. EDT (1230 GMT), is expected to show the economy shrank 0.5 percent. Initial applications for jobless insurance, expected at the same time, are seen falling to 318,000.
* S&P 500 e-mini futures were up 2 points in less than half the volume seen at this time of the day in the past sessions and fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a slightly higher open. Dow Jones industrial average e-mini futures rose 17 points and Nasdaq 100 e-mini futures added 3.5 points.
* Apple shares edged up 0.3 percent in premarket trading after it announced on Wednesday it will buy music streaming and audio equipment company Beats for about $3 billion and bring its founders, recording mogul Jimmy Iovine and rapper Dr. Dre, into Apple’s ranks.
* Shares of cyber security software maker Palo Alto Networks soared 13.3 percent premarket a day after it reported a better-than-expected jump in quarterly revenue as it added more customers, and said it settled patent litigation with network gear maker Juniper Networks.
* Costco shares fell 0.9 percent premarket after the warehouse club operator reported third-quarter results below analysts’ estimates hurt by an increase in merchandise costs and other expenses.
* Abercrombie & Fitch shares jumped 8.3 percent premarket after its quarterly loss, excluding items, was smaller than analysts expected.
Reporting by Rodrigo Campos